Shulou(Shulou.com)11/24 Report--

January 9 news, Tesla CEO Elon Musk (Elon Musk) is in trouble. For weeks, the billionaire has been the subject of public criticism by many investors in Tesla.

Among these retail investors, Leo KoGuan, a Chinese entrepreneur, is particularly eye-catching. He is currently Tesla's largest retail investor and third-largest individual shareholder, after Mr Musk and Oracle co-founder Larry Ellison (Larry Ellison).

Tuyuan Pexels in recent days, Liao Kaiyuan has been shelling Musk almost every day. As he said, he has gone from a big fan of the "king of electricity" (Musk's title in Tesla) to his number one opponent. Instead of hesitating, he publicly accused Musk of trying to destroy the value created by Tesla.

"if I knew, I wouldn't invest in Tesla."

It should be noted that Musk has not made any response to Liao Kaiyuan's criticism. Tesla will release its results for the fourth quarter of 2022 on January 25. Prior to this, in accordance with the requirements of stock market regulation, company executives must abide by the "quiet period" rules and cannot discuss factors that may affect the share price.

On January 7, Liao Kaiyuan wrote on Twitter:

"I support Tesla 100 per cent because I trust Musk and Tesla. However, he is killing Tesla now. If I had known this would happen, I would not have invested in Tesla."

Liao Kaiyuan continued to write:

"Musk invested about $200m in Tesla, but took $40 billion; Ellison invested $1 billion, while I invested more than $3 billion. I had no choice but to act and shout out my demands. I ask for your help!"

Liao Kaiyuan's anger and criticism stem from the continued collapse in Tesla's share price. Tesla's share price fell 65% in 2022, and its market capitalization lost more than $600 billion in a year. Tesla's market capitalization is now about $357 billion, down from more than $1,000bn at the beginning of 2022.

While Musk attributed the stock market disaster to macroeconomic factors such as the Fed's aggressive interest rate hikes to combat inflation and the European energy crisis, many Tesla shareholders, including Liao Kaiyuan, believe that his $44 billion acquisition of Twitter is the biggest problem.

These shareholders claim that when Musk set his sights on the social media platform, he completely forgot about Tesla.

On January 8, Liao Kaiyuan lashed out on Twitter:

"We want Musk to turn his attention back to Tesla, but he has a new seductive beauty-Twitter. Twitter gives him the power of" Dear Leader ", which he craves to decide who wins and who loses, who lives and who dies."

Hope to surpass Ellison to become the second largest individual shareholder

When one Twitter user pointed out that Musk lost about $200 billion in personal wealth due to the collapse in Tesla's share price in 2022, Liao Kaiyuan said this was not the case.

He responded on Twitter: "No, no! Musk has not only abandoned Tesla, but his capital is also disappearing! he is the greatest financial genius of our time. He cashed out $40 billion. His investment in Tesla is not zero, but minus $39 billion, but he owns 13.4% of Tesla, plus 304 million exercisable shares. The paper loss of $200 billion is an illusion."

Ross Gerber, another important shareholder in Tesla who has criticised Mr Musk in recent weeks, agrees. "in fact, Musk didn't lose anything," he said. "he cashed out more than $40 billion."

However, many fans of Musk and members of Tesla's community are disgusted with the criticism of Liao Kaiyuan and others. They defended the tech tycoon, accusing investors of "hypocrisy". In this regard, Liao Kaiyuan condemned what he called "Musk worship."

One Twitter user wrote about Liao Kaiyuan on Twitter: "every day, you talk on Twitter about how you like Musk and how you respect him. However, as soon as the share price plummeted, you immediately changed your face. I hope Tesla's share price continues to fall so that we can filter out people like you."

Liao Kaiyuan replied: "Man, I am protecting fanatical fans from Musk and Tesla. I'm a big fan of him myself, but that's all. I can't save Tesla alone. We need everyone to help correct Tesla's governance problems. We will not abandon the company we love, we will save it."

He believes that it is time to limit Musk's power in Tesla. For him, the board must play its part.

One Twitter user who claimed to be a Musk fan responded to Liao: "with all due respect, instead of provoking a rebellion (doomed to failure), it is better to find a solution." Given the number of Tesla shares you own, you should be able to contact Martin Martin Viecha, the company's head of investment relations, and convey your concerns to the chief executive and the board. It feels inappropriate to woo retail shareholders in this' battle'. "

Liao Kaiyuan explained: "I have contacted Tesla's board of directors and Musk many times, and I did the same last year." We got promises that have never been fulfilled. We did apply for a share buyback with Gary Black (Future Fund Managing partner) and Tesla's other shareholders, but both the board and Musk waited quietly. When we are desperate, we need to take desperate action. We are in such a situation, and we will never wait for death. "

On January 8, Liao Kaiyuan again called for action. He wrote on Twitter:

"I contacted Tesla's board of directors and Musk for about a year, but only got empty promises. In fact, from these interactions I found that Tesla is a personal company, but it is no longer a family business, it is a listed company with more than 100000 employees."

However, Liao Kai originally planned to continue to be a major shareholder in Tesla. He said: "this is my commitment. Unless the great Captain Ellison buys more shares of Tesla, I plan to hold about 50 million shares of Tesla by 2026, making it the second largest individual shareholder of Tesla. Musk's die-hard fans are welcome to compete with me. Who will own the most shares by 2030?"

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